14 Unif. L. Rev. 5 (2009)
Future Directions of Legal Harmonisation and Law Reform: Stormy Seas or Prosperous Voyage

handle is hein.journals/droit2009 and id is 5 raw text is: Future Directions of Legal Harmonisation and
Law Reform: Stormy Seas or Prosperous Voyage ?
Jos6 Angelo Estrella Faria *
Quem quer passar al6m do Bojador,
tern que passar alm da dor. * *
(Fernando Pessoa, Mar Portugu~s)
INTRODUCTION
The current context of the legal harmonisation process differs greatly from the
conditions under which the process was started more than a century ago. Both
rule-making and domestic implementation have become more complex. A wide
range of tools may now be used to formulate and implement uniform rules. The
aim of enhancing legal certainty and predictability is still the main driving force
of international harmonisation efforts. However, experience with legal
harmonisation and the growing interest in legal writings for the relationship
between law and economics have produced additional arguments. Of particular
relevance are arguments relating to the positive role of legal harmonisation and
law reform in reducing transaction costs and facilitating business worldwide.
Furthermore, the work of legal harmonisation now involves a large
number of organisations - both governmental institutions and private sector
representatives. Also, the rise of supranational organisations, of which the
European Union provides the ultimate example, has added a new element to
the law-making process, with possibly far-reaching consequences.
*   Secretary-General, UNIDROIT.
*  In Jonathan Griffin's translation, whoever means to sail beyond the Cape must double
sorrow - no escape' (Fernando PESSOA, Selected Poems, Jonathan Griffin (Ed.) 2nd ed., Penguin,
London (2000)). A headland on the northern coast of Western Sahara, Cape Bojador is feared for
its dangerous winds and difficult navigability. Numerous European vessels had disappeared in that
region by the time the Portuguese navigator, Gil Eanes, finally succeeded in doubling the cape, in
1434, thereby opening the seas for European trade routes to Africa and India.

Rev. dr. unif. 2009

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